Guide
Performance Management
Performance Management System: What You Need to Know
A Performance Management System (PMS) is much more than a tool for employee reviews. It is a central building block for specifically managing employee performance, achieving company goals more efficiently, and establishing a performance-oriented corporate culture in the long term. In this blog post, you will learn what really makes a Performance Management System, what types exist, and why companies without an effective PMS fall behind in competition.
1. What is a Performance Management System?
A Performance Management System is a structured method that enables companies to continuously measure, promote, and optimize employee performance. It includes tools and processes such as:
- Goal Setting: Clear, measurable goals that are linked to company strategies.
- Feedback Loops: Regular, structured feedback instead of one-time annual reviews.
- Employee Development: Individual development plans based on identified strengths and weaknesses.
Facts:
- 78% of companies using a PMS report a significant increase in employee productivity.
- The most common challenge without PMS is lack of transparency in performance evaluations.
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Building a Talent Pool: 7 Reasons Why Top Companies Rely on It
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Sample flyer for employee referral program with Word & PDF download
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Internal Talent Marketplace: How to Promote Mobility & Motivation Within Your Company
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Performance Management System: Benefits, Comparison and Features
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Employee evaluation made easy: 10 expert tips for successful performance reviews
Learn how to conduct structured and successful employee meetings to boost motivation and development within your team.